Printer Friendly

Beckman Coulter expands chemistry offerings.

Fullerton, CA 10/2/06 -- Beckman Coulter has agreed to acquire Lumigen for $185 million in cash. Lumigen develops and manufactures detection chemistries for clinical diagnostics and life science research. Lumigen had 2005 sales of $33 million, approximately 40% of which were from sales of chemiluminescent substrate to Beckman Coulter for use with its immunoassay analyzers. "Lumigen's proprietary chemiluminescent chemistry is the detection method used in our Access family of immunoassay systems," stated Richard Creager, Ph.D., vice president of Research and Development for Beckman Coulter's Immunoassay business. Beckman Coulter estimates the acquisition will be accretive to margins and to reported earnings per share by at least $0.02 in 2007. The acquisition is expected to close by November 1.

In the life science research market, Lumigen's technology is also used in products sold by Pierce, a unit of Fisher Scientific, Assay Designs, GE Healthcare and Vector Laboratories. The Oakland Business Review reports that Beckman Coulter approached Lumigen with the offer and that Lumigen's operations will remain in Southfield, Michigan and founder Paul Schaap will become general manager.
COPYRIGHT 2006 Strategic Directions International Inc. (SDI)
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Executive Briefing: News, Trends & Market Intelligence for Instrument Executives
Publication:Instrument Business Outlook
Date:Oct 15, 2006
Previous Article:Sigma-Aldrich buys chiral chromatography firm.
Next Article:Beckman Coulter adds to assay miniaturization capabilities.

Related Articles
LabAutomation 2002: the push for productivity.
Beckman Coulter furthers partnerships. (News: Industry Watch).
Beckman Coulter buys orchid instrument business. (Executive briefing: news, trends & market intelligence for instrument executives).
Market profile: analytical ultracentrifuges.
Beckman Coulter's changes.
The bottom line: data from recent industry financial reports. Dollar amounts in millions.
Beckman Coulter and Applera reach settlement.
Beckman Coulter, Inc.
Beckman Coulter's Q2 gross profit climbs 16%.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |